Group Black Expands Beyond Black-Owned Media With Rebrand And New Venture Following Turmoil – peopleofcolorintech

Group Black, originally founded to channel ad dollars into Black-owned media, is expanding its reach to a broader audience, Business Insider reports. The company has rebranded as Group Black Holdings and is now targeting what it calls “Gen Next,” a values-driven audience that cuts across race, age, and background.

Bonin Bough, Group Black’s co-founder and chief strategy officer, maintains that Group Black is “evolving—not abandoning” its foundation. The company is expected to share more details on September 8.

Portrait Media Group: A New Venture

As part of its rebrand, Group Black announced the launch of Portrait Media Group, an AI-powered media company. “Portrait Media Group exists to frame the future of media—because values, behaviors, and mindset—not just race or age—are what truly define the modern consumer,” Bough shared in a LinkedIn post.

Gen Next, he explained, includes Black, Latin, Asian, and multi-ethnic audiences, as well as values-driven white consumers. “They’re defined by mindset, not just identity,” Bough wrote in a LinkedIn post, calling the segment “a massive opportunity for brands that want to lead, not follow.”

Bough told Adage that multicultural audiences are the new “growth audience” that marketers are trying to appeal to. However, he doesn’t view this change as an “alienation” of Black audiences or Black-owned businesses.

Though several companies have changed to comply with the current political climate, Bough said this move is not related to the anti-DEI climate. “You have to historically look at the messages that we’ve been putting in the marketplace over the last two years,” Bough said. “We were already talking about … the expansion … So this is not a new or a departure for us.”

Origins in Black-Owned Media

Group Black launched in 2021, after the death of George Floyd, when huge advertisers such as Coca-Cola and Walmart publicly pledged to boost their spending with Black-owned media. At the time, those outlets accounted for less than 1% of total ad spending.

Entrepreneur Richelieu Dennis and Bough secured a $75 million target media investment from the ad buying giant GroupM (now WPP Media). The partnership made Group Black one of the most visible organizations directing ad dollars to Black-led media.

In 2024, Group Black acquired Galore Media Inc., a digital culture magazine that reaches 15 million users monthly. Galore co-founders Mike Albanese and Prince Chenoa joined the Group Black team as Senior Vice President and Editor-in-Chief of Galore, respectively.

Challenges in Recent Years

Though the company has had commercial success, it has also had its share of challenges. In 2021, it pledged to direct $500 million in ad dollars to Black-owned media, but several ad executives say it fell short. Cofounder Bonin Bough acknowledged the company did not meet the target, though he argued it helped raise the industry’s visibility of Black businesses.

The company also faced leadership turmoil after Travis Montaque, co-founder and CEO, took a leave of absence, followed by several key executives exiting the company. This included Kerel Cooper, advertising president; Dan Bisgeier, CFO and chief investment officer; Delida Costin, chief legal officer; Mike Owen, chief business officer; Ryan Robertson, SVP of marketing; and Marchelle Wright, chief people officer. 

Group Black was further hit with two lawsuits from Essence Ventures–owned companies, Business Insider reports. The suits alleged the firm owed about $20 million and misused funds to support Group Black and Holler, a media company founded by Montaque. Group Black denied the claims in court filings, apart from acknowledging a loan. The case is ongoing.

Image: Ron Ruggless

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